ASIC

Financial planning

Adelaide-based AFSL sees licence suspended

ASIC has suspended the AFS licence of a managed investment schemes and general advice provider after it failed to lodge financial statements and audit reports for the fin...

People & Products

ASIC issues four interim stop orders against Spaceship Capital

ASIC has made its first interim stop order on a superannuation product as well as on three managed funds, all run by Spaceship Capital....

Funds management

Does ASIC run the risk of regulatory overreach?

With ASIC playing a role in interpreting the law through materials like regulatory guides and in part enforcing the law through stop orders, a panel has questioned if the...

Financial planning

ASIC extends financial adviser registration date

ASIC has extended the deadline for registration of financial advisers and shared when it expects the portal to open....

Financial planning

Treasury details proposed APRA and ASIC levy figures

Treasury has issued a consultation paper detailing the proposed levy figures for APRA and ASIC in 2023-24....

Funds management

Child exploitation and crypto mining in ‘ethical’ ETFs

EXCLUSIVE Popular ETFs could soon come under ASIC’s radar as major ESG funds hold stocks that leading investment managers believe are far from ethical....

Funds management

Former fund manager banned for $7m naked short selling

A former fund manager has been banned by ASIC for three years for naked short selling of shares worth $7 million....

Financial planning

AMP issued $24m penalty for billing deceased clients

AMP Life and AMP Financial Planning have been issued a $24 million penalty by the Federal Court in relation to charging deceased clients for insurance and financial advic...

Financial planning

MLC Life fined $10m for misleading customers

The Federal Court has ordered MLC Limited pay a $10 million penalty for misleading customers and failing to pay promised benefits....

Policy & Regulation

FSCP fully operational and will address ‘less serious’ misconduct: ASIC

Leah Sciacca, ASIC senior executive for financial advisers, has outlined some of the activities of the Financial Services and Credit Panel, which commenced operations las...

Financial planning

Where does relevant provider registration with ASIC now stand?

ASIC’s senior executive leader, Leah Sciacca, has provided an update on the status of financial adviser registration with the regulator since it was delayed in November 2...

Funds management

Expect no-let up in greenwashing action: ASIC

ASIC is unlikely to slow its pace on greenwashing enforcement, according to deputy chair Karen Chester, or it will run the risk of making Australia a target for misconduc...

Financial planning

Former Courtenay House contractor sentenced over $180m Ponzi scheme

Athan Papoulias, former contractor to and promoter of Courtenay House investments, has been sentenced to two years’ imprisonment for his role in the Ponzi scheme....

Funds management

Where are funds going wrong under DDO?

ASIC has outlined the most common mistakes made by funds when creating their target market determinations as well as how many products have been withdrawn from the market...

Financial planning

First finfluencer sentenced for market manipulation

The first person to be convicted of a ‘pump and dump’ scheme has been sentenced and fined after pleading guilty to charges of share manipulation and illegal dissemination...